Property Details

# of Units: 69 total units; 61 restricted income & 8 market rate
Type: Single family detached and duplex
Occupancy: Owner occupied
AMI Target: 80%-160% AMI
Neighborhood Amenities: Open green space, trails, energy efficient homes, proximity to schools and downtown Frisco
Construction Complete: Winter of 2015

Restrictive Covenant Highlights

Employment: 30+ hours per week on an annual basis in Summit County
Income Limits: 80% – 160% AMI
Appreciation Limit: Lesser of 3% per year or % change in AMI
Commission: 1.75% of the resale price can be added to final resale price
Capital Improvements: Permitted Capital Improvements (PCIs) are broken into 4 categories based on AMI; 80% are not allowed PCI; units up to 120% AMI PCI can be added up to 10% of base price upon approval; units up to 160% AMI may add any amount of PCI upon approval
Retirement: A person over 65 years of age shall remain a resident as long as they have occupied the unit for at least 7 years prior to retirement
Rent: No short term rental allowed; owners can rent rooms to qualified tenants upon approval

Restrictive Covenants

Because each home in the Peak One Neighborhood has a different restrictive covenant, please contact the Clerk and Recorder’s office for the most up to date documents.

Please note that the information provided on this page is for convenience only and is not a substitute for a full recorded document search and review.  Please also note that the Town of Frisco offered property owners the option to opt into an updated restrictive covenant on an individual basis, so the covenants provided above may not apply to all properties in this development.